S -Chips , check out their external auditors

Hi Yeh, I suppose you must be right ços I thought it was a 1-1 issue. In any case, the management has shot its own foot as the share price went down from 14 to 9 cts now. They practically destroyed shareholders' value (instead of creating) thru' such unwise proposal. I'll wish to grill them abt this if another opportunity at next AGM - hope many of you can come up to support it.

Hi hh488 - Agree with you. I thought their cash holding should be adequate to complete the new luggage factory this year ? Their IR dept should give investors cost break down of this project. However, I respect any company which can make and sell 17 million backpacks/yr or 47K pcs/day in China alone. You need to be well organised to do this.

Hey guys. Took a stab at Dapai yesterday. A gamble. Don't folo.
The downside looks shallow. Upside ahem!

NAV 30+ SG cts.
Trailing PE 1.8X
Bad sentiment against S-chips = good price. Hopefully.

Dapai recently announced "a long term dividend policy with effective from the financial year ending 31 December 2011, by declaring an annual dividend of no less than 10% of the net profit available for distribution to the shareholders."

how much is this likely to be for FY2011?

Hey, I can relate to this interesting news below: If u are scared to own it, someone daring might see value in it. This reminds me of a posting several days ago where I said I bought some Dapai shares---which have come down a long way from being at above 20-cent level. 

Billionaire investor Richard Chandler bought more shares of Sino-Forest Corp., increasing to 11 percent his interest in the Chinese tree-plantation owner targeted by short seller Carson Block.
Richard Chandler Corp. said today in a statement that its Mandolin Fund Pte acquired 2.44 million Sino-Forest shares yesterday, boosting its stake to 26.7 million shares.
Sino-Forest plunged 83 percent last month after Muddy Waters LLC, a research firm founded by Block, published a report June 2 alleging Sino-Forest overstated timber holdings in China . Hong Kong- and Mississauga, Ontario-based Sino-Forest has denied the allegations and commissioned an independent investigation into the claims.

Ziwo Holdings Ltd. wishes to announce that Messrs Foo Kon Tan Grant Thornton LLP has on 1 July 2011 given notice to the Company of their resignation as auditors of the Company. Auditor say no enough manpower to handle audit.... you make your own judgement call....